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About 200 people came to a downtown rally to show support for the Boston Globe's union negotiating with the paper's owners, The New York Times Co.

Union members, civic leaders and supporters chanted in front of Faneuil Hall, holding signs reading "Save The Boston Globe" and "The Globe Belongs To Boston." They asked readers to imagine the city without the daily newspaper that has been published since 1872.

"This is about our city. This is a good fight. We would fight just at hard to save the Red Sox, the Boston Common or the Golden Dome," said City Council President Michael Ross, who attended the rally.

Reporter Brian Mooney said he and others are willing to make cuts to save the paper, but Times management must stop getting bonuses.

"So while the company was losing money, they got a raise. The rest of us got the donut. Hey, that's not fair. Shame on the New York Times Co."

Boston Newspaper Guild President Daniel Totten said a petition to save the Globe has about 500 signatures. Totten added the union is negotiating in good faith but criticized Times Co. for threatening the shutdown without making cuts of its own.

The New York Times reiterated the deadline of May 1 to come to an agreement on $20 million in cuts. Totten said that deadline is unrealistic.

"I think that threat and that intimidation and bullying is unacceptable," Totten said. "That has to stop. They have to come to the table and realize that there's a lot of work to be done. They need to do their fair share, as well."

Times Co. Chairman Arthur Sulzberger Jr. did not answer specific questions about the Globe's fate at Thursday's annual shareholders meeting, but said he hopes to cut expenses enough to prevent its closure.

"Of all our properties, The Boston Globe has been most dramatically affected by the secular and cyclical forces that are roiling the entire media industry," Sulzberger said. "More needs to be done to align the Globe's costs and revenues."

The newspaper had an operating loss of $50 million last year and is on track for an $85 million loss in 2009.

"The unthinkable is now possible and perhaps probable," said Globe reporter Bella English. "The Boston Globe is in serious trouble."